NELFUND: Real Relief for the Average Nigerian Family

 

You’ve heard the phrase “common Nigerian” thrown around a lot lately. 

It often shows up when debates about President Tinubu’s economic policies come up, especially as private companies report record profits.

But there’s one policy that speaks directly to that “common Nigerian”: the Nigerian Education Loan Fund, NELFUND.

Signed into law by President Tinubu on April 3, 2024, NELFUND is a federal student loan scheme built to remove cost as a barrier to public tertiary education. 

It covers tuition and upkeep for students in federal and state universities, polytechnics, and colleges of education.

*How it works:*

1. *Interest-free*: No interest accrues on the loan.

2. *Income-based repayment*: You start paying only after you get a job, and repayments are tied to your income, not family property or assets.

3. *Direct disbursement*: Tuition goes straight to your institution. Upkeep of N20,000/month goes directly to the student’s bank account for transport, books, and feeding.

*The impact so far:*  

Over ₦282 billion has been disbursed to 1.5 million students. That’s ₦282 billion less pressure on parents who previously drained savings or took high-interest loans to keep children in school.

Think of the farmer in Benue, the trader in Onitsha, the driver in Lagos, the widow in Kano. Their children can now sit for exams without being sent out of the hall for unpaid fees. 

Students no longer have to carry the psychological weight of knowing their parents are struggling to fund them.

Access is open to every Nigerian citizen. No political or family connection required. Application is done online.

*How to apply:*

1. Go to http://nelf.gov.ng and create an account with your email, NIN, BVN, and phone number.

2. Verify admission by selecting your institution and entering your matric number.  

3. Apply for tuition loan, upkeep loan, or both.

Tuition is paid directly to the school. Upkeep is sent monthly to the student. That structure prevents misuse and ensures the money serves its purpose.

If someone in your circle still hasn’t heard about this, tell them. A policy like this only works when the people it was designed for actually use it.

*Thank you, President Tinubu.*

*Conclusion*

NELFUND shifts the burden of tertiary education from struggling parents to a structured, repayable system. 

For millions of Nigerian families, that’s the difference between a child dropping out and a child graduating. 

*The fund exists. The portal is open. The next step is awareness*

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